Kernel Holding S.A. — Board/Management Information 2023

May 8, 2023

Current report no 20/2023

dated 8 May 2023

APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER

Kernel Holding S.A. (hereinafter the "Company") informs that Mrs. Anastasiia Usachova resigned from her position as Chief Financial Officer of the Kernel Holding S.A. group of companies (hereinafter the "Group") with effect as of 5 May 2023. The Board of Directors would like to extend their sincere appreciation for Mrs. Usachova's valuable service as a Chief Financial Officer through a period of significant growth and transformation of the Group. Her contributions and dedication have been instrumental in driving the Group's financial success. Mrs. Usachova remains a director of Kernel Holding S.A.

In light of this development, the Board of Directors has appointed Mr. Sergiy Volkov as the new Chief Financial Officer of the Group (as a member of the Executive Management Team), effective 8 May 2023. The Board is confident that Mr. Volkov's exceptional qualities, relevant experience, and an impressive skill set aligns with the Group's strategic goals and vision.

Legal grounds: Art. 17 of REGULATION (EU) No 596/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.

Signatures of individuals authorised to represent the Company:

Yuriy Kovalchuk

Yevgen Osypov